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Twenty-Five Largest Banking Companies

25 Largest Banking Companies
Business Segments
(Based on each company's internal business segment classifications)
Company Name and Business Segments Net Operating Income*
($ in Million)
Percentage
1. CitiGroup, Inc.
1. Global Consumer 2,222 59%
2. Global Corporate and Investment Bank 1,203 32%
3. Global Investment Management 435 11%
4. Propriety Investment Activities (123) -3%
5. Corporate 56 1%
Total 3,793 100%
2. J.P. Morgan Chase & Co.
1. Investment Bank (256) -79%
2. Retail & Middle Market Financial Services 807 248%
3. Treasury & Securities Services 212 65%
4. Investment Management & Private Banking 98 30%
5. JP Morgan Partners (284) -87%
6. Corporate (252) -78%
Total 325 100%
3. Bank of America Corporation
1. Consumer and Commercial Banking 1,580 71%
2. Global Corporate and Investment Banking 428 19%
3. Corporate Other 315 14%
4. Asset Management 72 3%
5. Equity Investment (160) -7%
Total 2,235 100%
4. Wachovia Corporation
1. General Bank 583 59%
2. Corporate and Investment Bank 69 7%
3. Capital Management 83 8%
4. Wealth Management 39 4%
5. Parent 209 21%
Total 983 100%
5. Wells Fargo and Company
1. Community Banking 1,068 74%
2. Wholesale Banking 290 20%
3. Wells Fargo Financial 92 6%
Total 1,450 100%
6. Bank One Corporation
1. Retail 354 43%
2. Credit Cards 298 36%
3. Commercial Banking 179 22%
4. Investment Management 100 12%
5. Corporate/Unallocated (108) -13%
Total 823 100%
7. FleetBoston Financial Corporation
1. Wholesale Banking 313 52%
2. Personal Financial Services 266 45%
3. Capital Markets (36) -6%
3. International Banking (2) 0%
4. All Others 56 9%
Total 597 100%
8. U.S. Bancorp. **
1. Consumer Banking 369 41%
2. Wholesale Banking 308 34%
3. Payment Services 199 22%
4. Private Client, Trust and Asset Management 108 12%
5. Capital Markets 1 0%
6. Treasury and Corporate Support (79) -9%
Total 906 100%
9. SunTrust Banks, Inc.
NA
10. National City Corporation
1. Retail Sales and Distribution 140 37%
2. National City Mortgage 91 24%
3. Wholesale Banking 65 17%
4. Parent and Other (35) -9%
5. Consumer Finance 75 20%
6. Asset Management 26 7%
7. National Processing 13 3%
Total 374 100%
11. KeyCorp
1. Key Corporate Finance 106 40%
2. Key Consumer Banking 122 46%
3. Key Capital Partners 38 14%
4. Other Segments (2) -1%
Total 264 100%
12. Bank of New York Company, Inc.
NA
13. BB&T Corporation
NA
14. State Street Corporation
NA
15. Fifth Third Bancorp
NA
16. PNC Financial Services Group, Inc.
1. Banking Businesses 249 87%
2. Asset Management and Processing 72 25%
3. Other (36) -13%
Total 285 100%
17. Comerica Incorporated
NA
18. SouthTrust Corporation
NA
19. Regions Financial Corporation
NA
20. AmSouth Bancorporation
NA
21. Northern Trust Corporation
NA
22. Charter One Financial, Inc.
NA
23. Union BanCal Corporation
NA
24. Mellon Financial Corporation***
1. Corporate and Institutional Services 153 55%
2. Asset Management 127 45%
Total 280 100%
25. M&T Bank Corp.
NA

*Net operating income represents after-tax earnings of banking companies from their main lines of business. Net operating income is defined as net income before extraordinary items and nonrecurring items. Nonrecurring items may be classified and defined differently by different banking companies.

**U.S. Bancorp.'s segment income represents pre-tax income before merger and restructuring-related items, cumulative effect of changes in accounting principles and provisions for credit losses.

***Mellon Financial Corp.'s segment income represents pre-tax net operating income.

Last Updated 11/14/2002 insurance-research@fdic.gov